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Stock Market & Financial Investment News

News Breaks
June 9, 2014
16:58 EDTMMM3M Company appoints Nicholas Gangestad as CFO
On June 9, 3M Company issued a press release announcing the appointment of Nicholas C. Gangestad as SVP and CFO, effective immediately. Gangestad replaces David W. Meline who is leaving the company to take a position as CFO at another large publicly-traded company. Gangestad has served as the companyís Vice President, Corporate Controller and Chief Accounting Officer since April 2011. Prior to that, Mr. Gangestad had served as Director of Corporate Accounting from 2007 to March 31, 2011 and as Director of Finance and I.T., 3M Canada from 2003 to 2007.
News For MMM From The Last 14 Days
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December 17, 2014
08:42 EDTMMM3M Company price target raised to $190 from $164 at BofA/Merrill
BofA/Merrill raised 3M Company price target to $190 following the better than expected dividend raise, rising margins, and incremental M&A in 2015-16. Shares are Buy rated.
December 16, 2014
08:52 EDTMMM3M Company says on track to deliver 2013-2017 financial objectives
Says will increase R&D investment, productivity. Says healthcare business is fastest-growing business unit. Comments taken from 3M Company's 2015 Outlook Meeting.
07:39 EDTMMM3M Company says adjusting 2013-2017 share buyback plan to $20B-$22B
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06:10 EDTMMM3M Company raises Q1 dividend by 20% to $1.03 per share
The board of 3M declared a dividend on the companyís common stock of $1.03 per share for the Q1, a 20% increase over the quarterly dividend paid in 2014. The dividend is payable Mar. 12, 2015, to shareholders of record at the close of business on Feb. 13, 2015.
06:08 EDTMMM3M Company backs long-term EPS objective of up 9%-11% per year
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06:06 EDTMMM3M Company sees FY15 EPS $8.00-$8.30, consensus $8.20
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December 15, 2014
08:31 EDTMMM3M Company to sell Static Control business to Desco Industries
3M announced that it has signed an agreement with Desco Industries for Desco to purchase the assets of 3Mís global Static Control business. 3M's Static Control business is a provider of products and solutions that help prevent, detect, and protect against Electrostatic Discharge events. The transaction is expected to close during the first quarter of 2015 after the successful completion of Descoís financing and is subject to customary closing conditions. Terms of the transaction were not disclosed. 3Mís Static Control business has annual global sales of about $45M. The business employs approximately 150 people worldwide, with manufacturing operations in Sanford, N.C. Substantially all of these employees are expected to transfer to Desco.
December 11, 2014
08:29 EDTMMM3M Company December volatility elevated into 2015 Outlook Meeting
3M Company December call option implied volatility is at 22, January and April is at 17; compared to its 26-week average of 17 according to Track Data, suggesting large near term price movement into its 2015 Outlook Meeting on December 16.
06:55 EDTMMM3M Company to host 2015 outlook meeting
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December 10, 2014
09:02 EDTMMM3M Company, Whitepeaks Dental Solutions settle dental ceramics coloring suit
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